Lamps & Bulbs Market by Product (CFLs, Fluorescent, Halogens), Light Color Temperature (2000K-3000K, 3100K-4500K, 4600K-6500K), Shape, End-Use - Global Forecast 2024-2030

Lamps & Bulbs Market by Product (CFLs, Fluorescent, Halogens), Light Color Temperature (2000K-3000K, 3100K-4500K, 4600K-6500K), Shape, End-Use - Global Forecast 2024-2030

The Lamps & Bulbs Market size was estimated at USD 116.25 billion in 2023 and expected to reach USD 123.25 billion in 2024, at a CAGR 6.06% to reach USD 175.60 billion by 2030.

Lamps are devices that emit light for illumination purposes and are designed to produce light continuously for a certain period when provided with electrical power. Lamps encompass a broad category, including table lamps, floor lamps, desk lamps, and other fixtures. The technical term lamp signifies the element within these fixtures that generates light. Bulbs, or light bulbs, are replaceable components that fit into lamps or other light fixtures to produce light. Bulbs convert electricity into light using various technologies such as incandescence and fluorescence, which is exciting a gas that emits ultraviolet light absorbed by a phosphor coating or light-emitting diode (LED) technology. Lamps and bulbs are essential in numerous applications, from providing ambiance and enhancing decor to ensuring visibility and safety in public and private spaces. Advancements in technology have led to the development of smart lamps and bulbs, which offer features such as energy efficiency, adjustable color temperatures, and remote control capabilities. Essential factors propelling market growth include the rising number of construction and infrastructure activities, government regulations promoting the use of energy-efficient lights, and the expanding shift toward connected and IoT-enabled lighting systems. Additionally, the rise in smart home infrastructure and IoT integration creates new opportunities for innovative lighting products and systems. However, the lamps & bulbs market faces certain challenges, such as the high cost of development of lamps & bulbs and technological obsolescence issues with lamps & bulbs. The growing introduction of technologically advanced lamps & bulbs and the rising availability of lamps & bulbs across online platforms presents potential opportunities for the lamps and bulbs market to grow in the coming years.

Regional Insights

In North America, there is a significant shift towards energy-efficient lighting solutions driven by government regulations and consumer awareness. The widespread adoption of LEDs over traditional lighting is a significant trend spurred by initiatives such as the ENERGY STAR program. South America presents potential growth opportunities for the lamps and bulbs market, with energy efficiency and cost savings being the key drivers. Brazil and Argentina are noteworthy countries characterized by urban growth and infrastructure modernization. However, the market is price-sensitive, and the adoption rate of advanced lighting solutions such as LEDs is slower compared to North America and Europe. Europe has a matured lamps and bulbs market due to increased environmental awareness among consumers and strict government regulations on energy consumption. The phase-out of incandescent bulbs in favor of LED lights has been a major change within the region, with Scandinavia and Germany at the forefront of the transition. The Middle East region is gradually embracing new lighting technologies despite the presence of a strong demand for traditional lighting. Conversely, Africa presents as an emerging market with significant potential due to its ongoing development and electrification projects. The Asia-Pacific region exhibits the fastest growth in the lamps and bulbs industry, with countries such as China, India, and Japan taking charge. Rapid urbanization, a growing middle class, and government initiatives to promote energy-efficient lighting are significant factors contributing to market growth. China, the prominent manufacturer and consumer of LED lighting in the world, plays a pivotal role in the region's market dynamics.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Lamps & Bulbs Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising number of construction and infrastructure activities
Government regulations promoting the use of energy-efficient lights
Expanding shift toward connected and IoT-enabled lighting systems

Market Restraints

High cost of development of lamps & bulbs

Market Opportunities

Growing introduction of technologically advanced lamps & bulbs
Rising availability of lamps & bulbs across online platforms

Market Challenges

Technological obsolescence issues with lamps & bulbs

Market Segmentation Analysis

Product: Growing demand LEDs due to their long life and energy efficiency
Shape: Extensive application of standard shape lamps and bulbs as they are suitable for general purpose lighting
Light Color Temperature: Wider application of 4600K-6500K color temperature lamps and bulbs in workspaces, studios, and display areas
End-Use: Rising usage of smart lighting solutions in hospitality industries for improved customer appeal.

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Lamps & Bulbs Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Lamps & Bulbs Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Tom Dixon Launches Portable Lamps to Make Homes More Flexible

Tom Dixon, a designer homeware brand, has recently unveiled its portable collection of cordless lamps, which includes melt, bell, and stone designs. These lamps are powered by rechargeable batteries, equipped with low-energy LEDs, and can provide up to nine hours of continuous lighting. With their versatile functionality and three dimmable settings, the portables can be used both indoors and outdoors. They are available in finishes of gold, silver, copper, and black metal.

Halonix Technologies Launches'UP-DOWN GLOW' LED Bulb in India

Halonix Technologies has recently launched its 'UP-DOWN GLOW' LED bulb in India, which glows in different colors in the upper and lower parts. This innovative bulb offers consumers two different lighting modes: the first variant provides white, warm, and mixed lighting, while the second offers white, blue, and mixed lighting options.

Signify Introduces Philips Ultra Efficient LED Bulbs, Delivering 3x the Lifetime Usage With 40% Less Energy Consumption

Signify N.V. has introduced Philips Ultra Efficient LED bulbs that offer up to 50,000 hours of light, resulting in energy cost savings of up to 40%. These bulbs are exclusively available at Walmart in the 60W, 100W, and 65W variants, with two color temperatures to choose from: soft white (3000K) and daylight (5000K).

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Lamps & Bulbs Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Lamps & Bulbs Market, highlighting leading vendors and their innovative profiles. These include Acuity Brands, Inc., Amglo Kemlite Laboratories, Inc., ams-OSRAM AG, Bajaj Electricals Ltd., Crompton Greaves Consumer Electricals Limited, Eaton Corporation PLC, EiKO Global, LLC, Everlight Electronics Co., Ltd., General Electric Company, Halonix Technologies Private Limited, Havells India Limited, Kravet Inc., Maxlite, MIC Electronics Limited, Nanoleaf Canada Ltd., Nichia Corporation, OPPLE Lighting, Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., Seoul Semiconductor Co Ltd., Signify N.V., Surya Roshni Limited, Syska Led Lights Pvt Ltd., Tom Dixon, Toshiba Corporation, Wipro Limited, Wolfspeed, Inc., and Zumtobel Group.

Market Segmentation & Coverage

This research report categorizes the Lamps & Bulbs Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
CFLs
Fluorescent
Halogens
Incandescent
LEDs
Light Color Temperature
2000K-3000K
3100K-4500K
4600K-6500K
Less Than 2000K
​6500K & Over
Shape
Candle
Globe
Standard
End-Use
Commercial
Industrial
Residential
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year